Forbes latest release shows American billionaire, Bill Gates has been beaten to the top position of the richest man in the world by an European entrepreneur.
Bill Gates has for years been the richest man in the world with his mega business Microsoft being one of the most influential companies in the world, but he’s no longer the world’s richest man.
That title goes to Amancio Ortega and he is the owner of Zara chain of retail stores. Zara has been a staple in the clothing business with their shops dotting almost every shopping complex everywhere in the world.
The Spaniard’s company Inditex who own Zara enjoyed a 2.5% boost on their shares which in turn boosted Ortega’s fortune to $79.5 billion Forbes reports.
This pushes him past Bill Gates who is at $78.5 billion. What makes Ortega remarkable is that very few people have heard of him, he isn’t in the spotlight much and is very serious about his private life.
The 80-year-old founded fast-fashion giant Zara with his then-wife Rosalia in 1975.
Inditex SA, a retail company which owns Zara, Massimo Dutti, and Pull&Bear – has over 6,600 outposts around the world.
Below are a few facts that should be known about Ortega: